Stock Market & Financial Investment News

Tiffany breaks sharply below its 10-day moving average, levels to watchThe stock is down over 3.8%, breaking down below the 10-day moving average. Support is currently at $62.02, the low of the day. Resistance is at $63. Moness Crespi earlier downgraded the shares to Neutral. This follows a deletion of the shares from the BofA/Merrill High Quality & Dividend Yield Screen list on Friday.

Tiffany downgraded to Outperform from Buy at CLSACLSA downgraded Tiffany to Outperform from Buy due to reduced Mainland Chinese tourism to Hong Kong, where 7% of sales are at risk. Price target is $101.

Goldman sees select Apparel and Footwear opportunities due to FX riskGoldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.